Many of the successful people have failed. Some even went bankrupt, before becoming successful. This failure did not make them desperate. From the painful failure they actually get the greatest lessons.
Forex trading is a really difficult activity. In my opinion, forex trading is even a lot harder than stock trading. There are several things that makes forex trading hard. Read the full article to learn more.
To excel in the Forex market, the traders need to have a solid trading strategy, otherwise it will become difficult for the traders to have an edge. Forex traders use a wide variety of trading strategies to determine the timing to buy and sell currencies. Traders are constantly innovating and improving upon strategies to devise new strategy to try interpreting market movements. In this article, you can find several types of trading strategies.
The desire of every trader, of course, gets profit from every trade he/she does. However, not all trades will result in profit. There are times when prices do not move as desired and finally losing money. Actually there are certain signs that indicate that the trading we are doing is in a wrong position and has the potential to end up losing. If you can look at these signs we can close positions early and avoid greater losses.
FOJI (Fear Of Joining In) is the opposite of FOMO (Fear Of Missing Out). At FOMO, traders dare entering the market even though prices have rallied so strongly. On the contrary, at FOJI, traders are afraid to enter the market, even though there is already a confirmation signal from the trading system. FOJI can be detrimental to traders, because traders will be late to enter the market.